PNC 0.00% 47.0¢ pioneer credit limited

Well, FIIG my bond brokers remain confident: This from their...

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    Well, FIIG my bond brokers remain confident: This from their research department today:

    "In our view, the overall process that Pioneer is going through appears to remain consistent with our expectation. As stated in this ASX release, Pioneer continues to engage with a number of parties in relation to potential transactions, such as provision of new funding or change of control. The FY 19 accounts recently released confirmed in our mind that the business continues to have inherently significant value and we remain confident that a transaction will be announced in the near term.As a consequence, we believe noteholders should refrain from taking any actions at this stage. We will continue to provide updates as and when additional information becomes available."

    BNY Mellon, the note trustee has also made this comment: "At the date of this notice the Note Trustee has not, and does not propose to take any steps in the absence of an instruction and indemnity to take enforcement action."

    Effectively if 25% of the noteholders voted to take action, they can, irrespective of the standstill agreement.

    So, for now, it is all quiet on the western front.
 
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